Transcript Decision Making - Finance in the Classroom

Decision Making
FinanceInTheClassroom.org
Decision Making
► The
process of gathering and
analyzing information in order to
make a decision.
Steps for Decision Making
► Set
Goals
► Analyze Information
► Create a Plan
► Implement the Plan
► Monitor and Modify the Plan
Source: NEFE
Factors that Can Influence
Your Goal Setting and Decision Making
► Student
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Ideas - Discussion
Factors that Influence Decisions
► Values
► Family
► Peers
► Age
► Habits
► Feelings
► Consequences
(love, anger,
rejection)
► Risks
Values
► The
beliefs and
practices in your life
that are very
important to you.
► Family
► Friends
► Work
► Honesty
► Self
Reliance
► Independence
► Religion
NEEDS vs WANTS
► NEEDS
 Essentials…the basics of
life
 Food
 Clothing
 Shelter
NEEDS vs WANTS
► WANTS
 Simply increase the
quality of living
My Decision
Pros
Cons
In this activity, students are able to list the pros
and cons of a decision. The instructor may want
to show an example on the board as a class, such
as the one on the following slide.
Choosing Brand Name Jeans
Over No-name Jeans
Pros
Cons
Better Fit
Cost More
Popular People
Will Notice Me
Will Look Like
Everyone Else
Feel Better About
Myself
Can Only Afford
One Pair
Writing Prompt
► Write
a paragraph identifying a decision you
have made in your life. Explain how you
made that decision and what the
alternatives were. Write a second
paragraph describing a future decision and
the things you will consider when making
that decision.